Masinloc Coal Plant Philippines

PHILIPPINES BANKS MUST

WITHDRAW

FROM COAL

The Philippines has been rapidly increasing its exposure to coal, and local banks are largely behind it.

These banks must stop investing in the climate crisis, and withdraw from coal.
Protest against BPI Philippines

WHICH PHILIPPINES BANKS ARE FUELING THE CLIMATE CRISIS?

The list below shows the banks that financed coal projects and how much they have loaned and underwritten during 2009-2019.*
Bank of the Philippine Islands

Bank of the Philippine Islands

3,480.86

million USD

BDO - Banco De Oro

BDO Unibank

2,518.98

million USD

PNB - Philippine National Bank

PNB

 1,607.28

million USD

Metrobank - Metropolitan Banking

Metrobank

1,197.95

million USD

RCBC Rizal Commercial Banking

RCBC

1,008.42

million USD

Security Bank

Security Bank

993.4

million USD

China Banking Corp.

758.21

million USD

Landbank of the Philippines

LandBank

470.68

million USD

Bank of Commerce Philippines

Bank of Commerce

447.41

million USD

UnionBank

352.10

million USD

UCPB

275.93

million USD

Development Bank of the Philippine

Development Bank of the Philippines

175.18

million USD

Asia United Bank

98.99

million USD

EastWest Bank

EastWest Bank

29.43

million USD

PBCOM - Philippine Bank of Communication

PBComm

9

million USD

*) The USD amount is calculated by combining the share of value underwritten (the amount of the share banks have committed to underwrite in underwriting deals), plus the share of loans issued (the bank’s share of loans they have committed to lend in the deal).
Sarangani Coal Plant

COAL IMPACTS

IN THE PHILIPPINES

Icons_Homepage-09.png

BILLIONS LOANED

FOR COAL

15 Philippine banks were found to have channeled 13.42 billion USD worth of financial services to coal developers and projects.

Icons_Homepage-10.png

BIG PLANS

FOR COAL

 

As of 2020, the Philippines ranks 7th among countries with the biggest coal pipelines.

Icons_Homepage-11.png

TWO BANKS

FUNDING MOST COAL

Just 2 banks are responsible for nearly 50% of this: Banco De Oro and the Bank of the Philippine Islands.

Icons_Homepage-15.png

PEOPLE DEMAND

CLEAN ENERGY

 

Stakeholders are demanding that Philippine banks withdraw from coal, and invest in our future instead.

Icons_Homepage-13.png

PHILIPPINES VULNERABLE

TO CLIMATE IMPACTS

The Philippines is among the most vulnerable countries in the world to impacts of climate change, but it also is highly dependent on coal for its power, despite the fossil fuel’s role in triggering global temperature rise.

Source: CEED Philippines

Icons_Homepage-14 v2.png

KILLER AIR POLLUTION FROM COAL

 

27,000 people are prematurely killed in the Philippines each year due to exposure to pollution from the burning of coal and other fossil fuels for power generation.

Source: Greenpeace, 2020

Icons_Homepage-16 v2.png

HARASSMENT OF ENVIRONMENTAL DEFENDERS

Coal proponents have reportedly engaged in instances of harassment, violence, and development aggression against indigenous community members and environmental defenders.

Icons_Homepage-12.png

RENEWABLES

HAVE POTENTIAL

 

The Philippines has an abundant renewable energy potential that is more than enough to cover its national demand for power, which in 2019 peaked at 15.581 GW.

IN THE NEWS

ABOUT WITHDRAW FROM COAL

Withdraw From Coal is coordinated by a coalition of Filipino civil society groups, environmental advocates, and faith-based organizations. We urge Philippines banks to stop funding fossil fuels to help solve the climate crisis.

Withdraw from Coal - Supporters' Logo.jp

Bishop Gerry Alminaza | Bishop Broderick Pabillo